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May 30th - According to an AFP report on May 29th, Iranian state media reported on the 29th that Iranian authorities are preparing a "grand" funeral for the countrys assassinated former Supreme Leader Ali Khamenei. The funeral had been long postponed due to Irans war with the United States and Israel. Although the specific date is still uncertain, Iranian state television quoted Mohsen Mahmoudi, head of the Islamic Propaganda Coordination Committee, as saying, "A special headquarters has been established to prepare for the funeral, and various departments are currently making preparations and arrangements." Ali Khamenei, who led Iran for more than 30 years, was killed in the first wave of US-Israeli attacks that began on February 28th. His son and successor, Mojtaba Khamenei, was also injured in the attacks and has not made a public appearance since taking office.May 30th - According to recent reports from Japan, the Cabinet Office has released the latest statistics showing that the Ministry of Defenses machinery manufacturing orders for fiscal year 2025 will reach nearly 2.69 trillion yen, roughly tripling in the past five years. This accounts for nearly half of the governments public service orders totaling approximately 5.53 trillion yen for fiscal year 2025. It is understood that increased orders for equipment such as surface-to-air missiles and aircraft have driven up the total value of the Ministry of Defenses machinery manufacturing orders for fiscal year 2025.On May 30th, it was reported that on May 29th, Zhang Zhigang, Chairman and Party Secretary of the State Grid Corporation of China, and Zhang Wenfeng, General Manager and Deputy Party Secretary, held talks with Qian Chaoyang, Chairman and Party Secretary of China Southern Power Grid Co., Ltd., at the companys headquarters. Both sides stated that State Grid and China Southern Power Grid share common responsibilities in ensuring energy security, promoting energy transformation, building a strong energy nation, and serving the overall economic and social development. They agreed to focus on the 15th Five-Year Plan and further strengthen communication and deepen cooperation in areas such as technological innovation, policy recommendations, mechanism building, the electricity market, and industrial innovation to better promote high-quality development of the energy and power sector.May 30th - Data released today by the National Energy Administration shows that in April, my country issued 237 million green electricity certificates, of which 74.85% were tradable. In April, 71.1 million green certificates were traded nationwide, including 29.72 million green certificates traded for green electricity.On May 30th, it was reported that the U.S. 24th Marine Expeditionary Unit announced on the 29th that it had officially assumed command of the U.S. Southern Commands area of responsibility—specifically, the waters surrounding Latin America. According to the announcement, the unit has deployed over 1,300 Marines and sailors and has completed the handover from the previously deployed 22nd Marine Expeditionary Unit.

Gold Price Prediction: XAU/USD to Approach $1,880 as US Inflation Steals the Show

Daniel Rogers

Jan 12, 2023 11:59

 截屏2023-01-11 下午4.19.41_1024x576.png

 

During the Asian session, the gold price (XAU/USD) aims to extend its rebound to near the important barrier of $1,880.00. Prior to the announcement of U.S. inflation statistics, the precious metal fell to a low of approximately $1,867.50 during its rangebound behavior. However, in the late New York session, the precious metal rebounded significantly.

 

In Asia, S&P500 futures are doing poorly; yet, the total risk profile is notably positive. On a broader scale, the alpha created by 10-year US Treasury bonds has abandoned its recovery rise amid optimism and has declined to approximately 3.55%. In the meantime, the US Dollar Index (DXY) has fallen to roughly 102.75 as the market anticipates a further deceleration in the Consumer Price Index (CPI).

 

According to NBF analysts, headline prices will decrease 0.1% month-over-month and the year-over-year rate will decline from 7.1% to 6.9%. This rise should have been more than offset by decreasing gasoline prices. The Core index may have continued to be supported by growing rent costs and increased 0.3% month-over-month. This would result in a two-point drop in the 12-month rate to 5.8 percent."

 

None of the drivers, ranging from a risk-on sentiment to an economic slowdown and a lower consensus for the United States Consumer Price Index (CPI), are exhibiting indications of recovery in the US Dollar Index after the carnage. The Federal Reserve (Fed) could be compelled to modify its monetary policy forecasts for CY2023 and beyond if US inflation figures decrease.


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